Starbucks (NASDAQ:SBUX) had its price objective boosted by Robert W. Baird from $64.00 to $72.00 in a research note issued to investors on Friday, The Fly reports. Robert W. Baird currently has an outperform rating on the coffee company’s stock.
Other research analysts also recently issued reports about the stock. Telsey Advisory Group dropped their target price on shares of Starbucks from $60.00 to $58.00 and set a market perform rating on the stock in a research report on Tuesday, July 17th. Zacks Investment Research raised shares of Starbucks from a strong sell rating to a hold rating in a research report on Tuesday, August 21st. Wedbush reaffirmed a hold rating and set a $53.00 price objective on shares of Starbucks in a research report on Tuesday, September 18th. Wells Fargo & Co boosted their price objective on shares of Starbucks from $60.00 to $64.00 and gave the company an outperform rating in a research report on Wednesday, October 17th. Finally, BidaskClub downgraded shares of Starbucks from a strong-buy rating to a buy rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $63.48.
Shares of Starbucks stock traded up $0.65 during trading on Friday, hitting $64.97. The stock had a trading volume of 7,035,580 shares, compared to its average volume of 14,903,019. The company has a market cap of $86.77 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 7.73, a current ratio of 2.20 and a quick ratio of 1.95. Starbucks has a 1 year low of $47.37 and a 1 year high of $65.68.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.28 billion. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. On average, analysts expect that Starbucks will post 2.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, November 14th. Starbucks’s dividend payout ratio is 59.50%.
In other Starbucks news, Director Javier G. Teruel sold 166,666 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $52.70, for a total value of $8,783,298.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Myron E. Ullman III sold 99,166 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the completion of the sale, the director now directly owns 29,000 shares of the company’s stock, valued at $1,596,450. The disclosure for this sale can be found here. Insiders sold 280,832 shares of company stock valued at $15,052,087 over the last three months. Insiders own 3.48% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SBUX. Principal Financial Group Inc. lifted its stake in shares of Starbucks by 6.6% in the first quarter. Principal Financial Group Inc. now owns 5,043,587 shares of the coffee company’s stock worth $291,975,000 after buying an additional 312,720 shares during the last quarter. DnB Asset Management AS lifted its stake in shares of Starbucks by 31.3% in the second quarter. DnB Asset Management AS now owns 318,607 shares of the coffee company’s stock worth $15,564,000 after buying an additional 75,955 shares during the last quarter. Rockland Trust Co. lifted its stake in shares of Starbucks by 2.3% in the second quarter. Rockland Trust Co. now owns 187,875 shares of the coffee company’s stock worth $9,178,000 after buying an additional 4,150 shares during the last quarter. Stonebridge Capital Management Inc. acquired a new stake in shares of Starbucks in the second quarter worth $4,634,000. Finally, Vision Capital Management Inc. lifted its stake in shares of Starbucks by 22.9% in the second quarter. Vision Capital Management Inc. now owns 100,395 shares of the coffee company’s stock worth $4,904,000 after buying an additional 18,738 shares during the last quarter. 71.77% of the stock is owned by institutional investors.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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